World Markets
18 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Fed bounce has dollar headed for year’s best week
- Asian shares up but set for weekly loss after hawkish Fed
- Oil falls from multi-year highs on firmer dollar, hike in UK COVID cases
Currency
The dollar was headed for its best week in nearly nine months on Friday as investors have scrambled to price in a sooner-than-expected ending to extraordinary U.S. monetary stimulus in the days after a surprise shift in tone from the Federal Reserve.
The dollar index has zoomed above its 200-day moving average to hit a more than two-month high of 92.010 and is on track for a 1.5% weekly gain, its largest since last September. The dollar is also on track for a 0.5% rise against the yen , which traded at 110.25 per dollar after hitting an 11-week peak of 110.82 on Thursday.
Equity
Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023.
MSCI’s broadest index of Asia-Pacific shares outside Japan was barely above water in morning trade after four sessions in the red, edging up 0.01%. Hong Kong’s Hang Seng index gained 0.53% and Seoul’s KOSPI was up 0.16%. Chinese blue chips swung between gains and losses, and were last down 0.1% Japan’s Nikkei rose 0.31%.
Oil
Crude oil prices fell nearly 2% from their highest level in years on Thursday as the dollar strengthened after the U.S. Federal Reserve signaled it might raise interest rates as soon as 2023.
Brent futures fell $1.31, or 1.8%, to settle at $73.08 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.11, or 1.5%, to settle at $71.04.
Financial News
Economic Times
– Rakesh Jhunjhunwala-backed Nazara Technologies to acquire gaming firm PublishMe
– Federal Bank board approves Rs 916 crore fund raise from IFC
– DMart, Info Edge in the running for Nifty inclusion, says Edelweiss
– Dodla Dairy’s grey market premium tanks 50%, KIMS sees volatility
– Paytm ropes in iBankers for mega IPO, may file papers next month
– HDFC Bank says awaiting clarity from central bank on lifting of RBI embargo
– Coal India Limited forays into extraction of coal bed methane
– India extends USD 100 million Line of Credit to Sri Lanka for solar energy projects
Business Standard
– PE major Carlyle to sell 5.1% stake in SBI Cards on Friday
– IPO-bound Delhivery begins consumer-to-consumer parcel shipping
– Adani stock rout extends; Rs 1.59 trn market-cap wipe out this week
– Jet Airways shareholders reject company’s financial results for FY20
Financial Express
– Sebi issues new guidelines for running account settlement
– SAT reduces Sebi’s penalty on CARE Ratings to Rs 10 lakh in RCom case
– India puts on hold proposal to cut import duty on edible oils
– India maintains 43rd rank on IMD’s World Competitiveness Index; Switzerland tops chart
Business Line
– RBI pays higher-than-expected price to buy 10-year G-Sec
– Digitalisation presents a mixed bag of opportunities, challenges to Indian IT sector
– CII calls for ₹3 lakh crore fiscal stimulus to boost demand
– PPE protects Gokaldas Exports from impact of pandemic
Mint
– Govt amends Cable Television Network Rules
– After a tough year, Lemon Tree Hotels’ woes are far from over
– Max Financial promoters sell shares worth Rs783 crore
– Indians’ funds in Swiss banks jump to over ₹20,000 crore, highest in 13 years
– Sugar production up 13% so far this market year at 307 lakh ton: ISMA
Economic Events
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Disclaimer : All information in this report is collected from various sites on internet. Although we have taken all precautions for correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed is authors own views. We are not responsible for any losses on account of following the same.
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